December 12, 2019

Important Updates for Arch Insurance (UK) Ltd — Premium Finance Change

Insights UK Regional Division

Arch Insurance is updating transaction charges for insurance policies paid by instalments in 2020 and all brokers should be aware of the changes.

From 1st January 2020 the charge will be 4% (7.6% APR) and not as previously stated.

Premium Credit Ltd will continue as the finance provider and, as always, our team of expert regional underwriters are available to provide advice and guidance should you, or your clients, have any queries.

Please follow the Premium Finance link to our ‘Need to Know’ document which provides full details of the Premium Credit facility and includes details of your regulatory responsibilities.

If you have any questions regarding the Premium Finance facility, please contact one of our 13 regional offices.

These can be found in Birmingham, Bristol, Colchester, Glasgow, Leeds, Leicester, London, Maidstone, Manchester, Redhill, Sheffield, Southampton & St Albans.